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Elon Musk

Elon Musk Confirms Acquisition Of Twitter For $44 Billion.

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Elon Musk, a billionaire, has taken control of Twitter in one of the biggest tech deals in history. Elon Musk will pay approximately $44 billion for the social network, with shares valued at $54.20. On April 14, Musk announced his takeover bid, calling it his ‘best and final offer.’

Free Speech

“Free speech is the foundation of a functioning democracy, and Twitter is the digital town square where important issues affecting humanity’s future are discussed.” I also want to make Twitter better than it has ever been by adding new features, opening up the algorithms to increase trust, defeating spambots, and authenticating all humans. “I look forward to working with the company and the community of users to unlock Twitter’s tremendous potential,” Elon Musk said in a press statement posted to his Twitter account.

On the platform, he has been a staunch supporter of ‘free speech.’ “I invested in Twitter because I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote in a filing to the US Securities and Exchange Commission. “Twitter has extraordinary potential,” he wrote in the filing.

“I hope that even my harshest critics remain on Twitter because that is what free speech means,” Musk said earlier today on Twitter. It’s also worth noting that Musk sent out a rather obnoxious tweet about Microsoft co-founder Bill Gates on Saturday, ostensibly in response to Gates shorting Tesla. More than a million people have liked the tweet. He then joked that his tweet was being reviewed by the ‘shadowban council.’

Elon Musk
Image source: news7h.com

New Ownership

According to Twitter, the publicly-traded company will now become a private company owned by Musk, who negotiated a $54.20 per-share purchase price.

“Twitter serves a purpose and is relevant to the entire world. We are immensely proud of our teams and inspired by work that has never been more critical, “Parag Agrawal, the company’s CEO, said in a tweet.

Musk secured $46.5 billion in financing last week to complete the deal, and Dan Ives, an analyst at Wedbush Securities, predicted earlier in the day that the board would likely accept his offer because no other buyer could be found.

In an interview with CNBC, he said, “This basically put (their) back against the wall, and they had to come to the negotiation table.” Around 1915 GMT, Twitter stock was trading 5.9% higher on Wall Street.

Poison Pill Strategy

While the board initially stated that it was considering Musk’s offer, it later rejected him and implemented a “poison pill” strategy that would have made it more difficult for Musk to gain control of the company.

Musk, whose immense wealth stems from the popularity of Tesla electric vehicles as well as other ventures, announced last week that he had secured funding.

Despite Musk’s wealth, the issue of financing had been viewed as a potential stumbling block because a large portion of his holdings is in Tesla stock rather than cash.

Musk claimed in a filing that the deal was made possible by a $13 billion debt facility from a financing consortium led by Morgan Stanley, a separate $12.5 billion margin loan from the same bank, and $21 billion from his own assets.

Musk’s efforts have sparked optimism about Twitter’s commercial potential, which has struggled to achieve profitable growth despite its cultural and political clout.

New Features

Twitter has made progress on new monetization features, such as subscription products, under Agrawal, who took over as CEO late last year. “Short term, Musk’s involvement at this stage runs the risk of disrupting those efforts,” Truist Securities said in a note.

However, the campaign of the polarising Tesla CEO has alarmed technology and free-speech experts, who point to Musk’s erratic statements and history of bullying critics, which contradict his stated goals.

According to the progressive group Media Matters for America, Trump could return to Twitter if Musk’s acquisition goes through, according to the progressive group Media Matters for America.

In a statement, the group’s president Angelo Carusone said, “Any negotiations to sell Twitter to Musk must include clear enforceable mechanisms to uphold and maintain existing community standards, including the removal of those who violate those standards.”

Elon Musk

Elon Musk Makes ‘Best And Final’ Offer To Buy Twitter; Launches Hostile Takeover Bid Worth $43 Billion.

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Elon Musk, a billionaire entrepreneur, has offered to buy Twitter Inc. for $43 billion, slamming the company’s management and claiming to be the only person who can unlock the “extraordinary potential” of a communication platform used by more than 200 million people every day.

Musk said he’ll pay $54.20 per share in cash, which is 38% higher than the price on April 1, the last trading day before he went public with his stake. In New York on Thursday, the social media company’s stock was little changed at $45.81, indicating scepticism that one of the platform’s most outspoken users will succeed in his takeover attempt.

“I invested in Twitter because I believe it has the potential to be a global platform for free speech, and I believe that free speech is a societal imperative for a functioning democracy,” he wrote in the filing. “However, since making my investment, I’ve come to realise that the company, in its current form, will neither thrive nor serve this societal imperative.”

Elon Musk, 50, made the offer public on Thursday in a filing with the US Securities and Exchange Commission. On April 4, the billionaire, who also owns Tesla, revealed a 9 percent stake in the company. Tesla’s stock dropped 1.5 percent in pre-market trading as a result of the news.

Twitter’s board of directors will consider the proposal, and any response will be in the best interests of “all Twitter stockholders,” according to the company.

The bid is the latest chapter in Musk’s tumultuous relationship with the social media platform. The executive is one of Twitter’s most-followed firebrands, frequently tweeting memes and taunts to his more than 80 million followers as @elonmusk. He’s been vocal about the changes he’d like to see at the social media platform, and the company offered him a seat on the board after he announced his stake, which made him the company’s largest individual shareholder.

Elon Musk
Image source: indianexpress.com

Elon Musk began soliciting feedback from fellow Twitter users soon after his stake was made public, proposing everything from turning Twitter’s San Francisco headquarters into a homeless shelter to adding an edit button to tweets and granting automatic verification marks to premium users. Given that several celebrities with large followings rarely tweet, one tweet suggested that Twitter might be dying.

He is one of the few people who can afford a full takeover because he is dissatisfied with the power that comes with being Twitter’s largest investor. According to the Bloomberg Billionaire’s Index, he’s worth around $260 billion, compared to Twitter’s market value of around $37 billion.

In a letter to Twitter’s board, Musk stated that “in its current form, Twitter will neither thrive nor serve [its free speech] societal imperative.” Twitter should be turned into a private company.”

It is unlikely that the takeover will take a long time. “If the deal doesn’t work, I’ll have to reconsider my position as a shareholder,” Musk said. “I don’t have faith in management and don’t believe I can drive the necessary change in the public market.”

According to today’s statement, Musk informed Twitter’s board of directors over the weekend that he believes the company should be taken private.

According to Vital Knowledge’s Adam Crisafulli, the $54.20 per share offer is “too low” for shareholders and the board to accept, despite the fact that the company’s shares hit $70 (roughly Rs. 5,300) less than a year ago.

Despite the fact that Musk is the world’s richest man, he has yet to reveal how he will come up with $43 billion in cash.

“This becomes a hostile takeover offer that will cost a significant amount of money,” said Neil Campling, Mirabaud Equity Research’s head of TMT research. “To fund it, he’ll have to sell a significant amount of Tesla stock or take out a large loan against it.”

What is Musk’s goal for Twitter?

Musk is one of the most popular people on Twitter, with 80.5 million followers, outnumbering celebrities like Kim Kardashian and Selena Gomez.

However, his frequent tweeting has resulted in regulatory issues, such as his long-running dispute with the Securities and Exchange Commission after he tweeted in 2019 that he had the funds to buy Tesla for $420 per share. That didn’t happen, but it did cause the stock to rise, drawing the attention of regulators.

Musk had been expected, as Twitter’s largest shareholder, to press the company on issues of free speech, a subject on which he has spoken out. Musk’s acquisition offer letter emphasised this point, emphasising his commitment to “free speech.”

Elon Musk

Elon Musk To Join Twitter’s Board Of Directors After Big Move.

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Elon Musk will join Twitter‘s board of directors just one day after it was revealed that he had purchased a 9% stake in the company, making him the largest shareholder in the social media platform.

“I’m thrilled to announce that @elonmusk has been appointed to our board of directors!” On Tuesday, Twitter CEO Parag Agrawal sent out a tweet. “It became clear to us in recent conversations with Elon that he would add tremendous value to our Board.”

“He’s both a passionate believer and an intense critic of the service,” Agrawal continued, “which is exactly what we need on Twitter and in the boardroom to make us stronger in the long run. Elon, welcome!”

“I’m looking forward to working with Parag and the Twitter board in the coming months to make significant improvements to Twitter!” In response to Agrawal, Musk said.

Elon Musk was also welcomed to the board of directors by former Twitter CEO Jack Dorsey. “I’m overjoyed that Elon has decided to join the Twitter board! He is deeply concerned about the state of our world and Twitter’s role in it. Both Parag and Elon lead with their hearts, and they’ll make an amazing team “In a tweet, he stated.

Elon Musk
Image source: foxmetronews.com

The Tesla and SpaceX CEO bought a 9.2 percent stake in Twitter on Monday, making him the company’s largest shareholder. Many people were surprised by the move, as Musk had just complained about free speech on the platform in a tweet last week.

Tesla’s CEO uses Twitter to communicate with his 80 million followers on a regular basis, which can get him in trouble. Following a series of impromptu tweets about taking Tesla private in 2018, US securities regulators appointed a Twitter babysitter for Musk, who is responsible for reviewing everything the CEO tweets about his company.

Musk is expected to press Twitter on issues of free speech, a subject about which he has spoken out. Several social media platforms, including Twitter, are attempting to strike a balance between free speech and the censorship of content deemed hateful, harmful, or false.

He was even seen asking Twitter users if he should start a new social media platform where people could share their thoughts. That’s when the majority of Twitter users suggested Musk buy the company, and now he’s the company’s largest shareholder.

Musk’s Twitter stake is classified as a passive investment, implying that he is a long-term investor who wants to keep his buying and selling to a minimum. However, Musk has raised concerns about the ability to freely communicate on Twitter, tweeting about free speech and the social media platform last month, and industry analysts were skeptical of the mercurial CEO remaining on the sidelines anywhere. Since Musk announced that he has purchased a stake in Twitter, the stock has risen 35%, bringing Musk’s net worth to $980 million.

With Musk on board, it’s possible that we’ll finally get the long-awaited Edit button on Twitter, which former CEO Jack Dorsey was adamantly opposed to. Musk polled Twitter users about creating an Edit button on the same day he bought into the company.

neuralink

Elon Musk’s Neuralink puts computer chips in a Pig’s brain to treat disease.

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On 29th August 2020, Elon Musk’s startup, Neuralink revealed a big experiment they are carrying out. The main source of the news is Reuters. Neuralink has put a coin-sized computer chip inside a pig’s brain for the past two months. The name of the pig is Gertrude and it is in the early stage of the experiment to analyze if the same concept can be applicable for human brains. According to Elon Musk, this can be a way to cure many diseases in the human body.

Neuralink is a neuroscience-based startup founded in 2016 by Tesla Inc and Elon Musk. Current experimentation of the company involves treating major human diseases by implanting wireless brain-computer interfaces. Musk delivered this news on a webcast last Friday. The timeline for human trials has not been mentioned yet.

Three little pigs

Musk has given a presentation virtually and it is called “three little pigs” demo. The demo showed Gertrude, the pig whose brain has been implanted with the computer chip in a position that controls the snout. After some coaxing by Elon Musk, it began performing some activities like eating off a stool and sniffing the straws which led to show striking changes in the graphs monitoring the neural activity.

Musk also revealed that the experimentation has been carried out in three such pigs having two brain implants each. The implanted pigs are physically indistinguishable from any regular pigs and there are no abnormalities in them. Moreover, the pigs with implantation have shown greater accuracy in limb movement during a treadmill run. The conclusion has been reached using the implant data. These pigs are now often described as “Cypork”.

Human trial

Previously, Musk has mentioned about the human trials beginning at the end of this year. But, on Friday, Elon Musk has not mentioned any specific timeline for the beginning of the human trail. Dr. Matthew MacDougall, the head surgeon of Neuralink said that the first clinical trial on humans will focus on a small group of patients suffering from paraplegia or paralysis. The company also confirmed that it has made many great innovations for the past four years and the long studies have come to an end. This might mean that the trails will begin shortly since the implantation in animals has shown positive results.

Elon Musk
Image Source: teslarati.com

Treating several diseases 

Elon Musk has said the implantation device can solve many actual diseases in the human body like memory loss, hearing aid, depression, and insomnia. There are thousands of electrodes present in the computer chip which interacts with the human brain to cure complex neurological problems. Severe conditions like Alzheimer’s disease, dementia, spinal cord, injuries, etc can be cured as well. The size of the Neuralink’s chip is approximately 23 mm in diameter. Musk described it as “a Fitbit in your skull with tiny wires.” So, it is impossible to distinguish a person with implantation from a normal person. In 2020, around 5.8 million Americans are diagnosed with Alzheimer’s dementia. So, an invention like this will be a big scientific and medical breakthrough. But, once it becomes a success, viability will be the main concern.

Expert’s feedback

In response to the high success rate of this experimentation, Graeme Moffat, a neuroscience research fellow from the University of Toronto said that Neuralink’s advancements are ahead of its time. The superior design of the computer chip with efficient power management, wireless technology, and smaller size makes it very innovative and impactful. One of the neuroscientists from Stanford University said that the company has made huge progress since last year’s demonstration about the chip.

But, some of them have contradicted the statement regarding the end of longer studies. A few fellow researchers around the world said longer studies might be required to determine the longevity of the device. Since the experts can read the brain waves after the chip has been implanted it will lead to a better understanding of the brain activity while suffering a disease.

Similar advancements

Musk’s neuroscience start-up, Neuralink has received $158 million in funding. But, he said that the main reason for Friday’s event was recruiting and not fundraising. Musk also spoke about AI and its role in this new Neuralink’s chip. He also said other companies like Kernel and Paradromics are carrying out similar experiments.

Elon Musk

Elon Musk Calls Lockdown and Shelter-in-Place Norms Fascist Actions

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The world is facing a significant crisis in the form of COVID-19. The deadly pandemic is continuing to spread aggressively through Europe and North America. As countries struggle to grapple with the epidemic and deal with the aftermath of the viral disease, most economies are facing strict sanctions. For instance, most of the world’s schools and colleges have been shut. In the US, several states still have a lockdown in place, which bans public gatherings and the functioning of non-essential services. While some states have eased lockdown regulations owing to pressure from the public, certain others are maintaining social distancing norms to prevent further spread of the disease. Meanwhile, Tesla CEO Elon Musk has come out in favour of the easing of such lockdowns. In a statement released yesterday, Elon Musk called all shelter-in-place orders within the San Francisco Bay area and the US in general actions that are “fascist”. Here’s a look at what Musk said, and what implications his words might have.

Freedom at Risk

Elon Musk believes that asking people to stay-at-home as a part of the lockdown measures are fascist in nature, as they strip people of their rights. Musk stated that curbing people’s freedom isn’t how nations should handle such an issue. While announcing Tesla’s earnings call on Wednesday, Musk reiterated his belief in easing the lockdown measures, to much criticism from the public. A day earlier, he had faced flak for a remark he made on Twitter, wherein he echoed President Trump. The tweet was simple, having the words Free America Now, in all caps, much like how the President expresses himself online.

Production Worries or Safety?

Musk started talking about the repercussions that such a lockdown could have on the economy and ranted about not being able to meet production demands. He stated that issues in the Bay Area were seriously going to affect their production, and is hence a severe risk. The rant came as a result of the Six Bay Area counties extending their lockdown orders until May 31st. The recent changes in the lockdown order will affect Fremont, San Francisco, and other similar cities. Musk has called the shelter-in-place a way of forcibly imprisoning people within their homes, and that this was against their constitutional rights. Musk went on with his rant and stated that such practices were against American principles and that curbing people’s freedom this was just wrong.

Musk continued by stating that people who wished to stay home could, while others should be allowed to go out and do as they please. He believes that it is fascist to force people to stay at home and that the government should start acting democratic and give people their rights back.

Unwilling to Listen

All of this seems to come from the fact that Tesla’s main factory is located in Fremont. When the initial order asking all non-essential services to shut down came out, he stopped production and shut his factory down. Furthermore, Musk also closed his Buffalo plant that specializes in making solar panels. However, Musk was not wholly compliant and shut his factor five days after the order came out. Also, he defied orders last week by asking workers in Freemont to return to work. Furthermore, Tesla’s Gigafactory in Nevada never shut, defying lockdown orders put in place by the state’s governor.

Elon Musk believes that while Tesla will make it out fine once the COVID-19 crisis subsides, other small companies would not. Therefore, he has called the order to shut non-essential services a threat to everything that people have worked for, and that this would make people angry. Throughout the COVID-19 crisis, Musk has been critical of the safety measures the administration has taken. However, Musk’s criticism has been quite frustrating at times, as he has questioned science many a time, and even made incorrect predictions regarding the virus’s severity. In the early stages of the lockdown, Musk had said that the US would only have a few cases of the COVID-19 by the end of April. However, the US is grappling with over 25,000 new cases every single day! Since the beginning, Musk’s stand has been troublesome, with people criticizing him for the way he has behaved during this crisis. The public is shocked that someone with such scientific knowledge is being so irresponsible during such a dire situation. During such difficult times, the country needs people who can lead the initiative against the COVID-19, and not someone who refers to it as ‘dumb’

Geely

How Geely Car Manufacturers Are Taking to the Stars?

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Ever since mankind took form on the Earth, he has been fascinated by the sky and the stars. As a civilization, we have yearned to explore more about the stars than any species before us. This quest for innovation and creation has helped us become the longest surviving dominant species on Earth. Innovations in the field of science and technology have made it easier to live, lengthened our life spans and made things which were impossible in the past, possible. One of the key areas in which research is going on now is space and telecommunications. We are eternally in search of a new home in the galaxy, and science is helping us do that. Furthermore, huge advancements in the field of electronics and communication have made it possible for us to link various devices together. One major change that will occur in the next few years is the globalization and cloud-control of cars. Let us take a look at how Chinese auto-giant, Geely is making this dream a reality by taking to the stars.

Geely to Build Satellites

Geely is the largest private car manufacturer in China, and they are all ready to enter the satellite business. This Chinese conglomerate has been rapidly expanding in the last decade, having moved into trucking, speed trains, drones, and even Volvos. The company is showing no signs of slowing down any time soon, by releasing a statement that they will soon be entering the aerospace field.

This move has been undertaken so as to make it easier to tie together all their assets. Geely will begin work on its own satellite-powered network, in order to formulate a mobility ecosystem that will be smart and intelligent.

On Monday, the automotive giant announced their plans to begin work on a production facility that will create, design and test satellites in Taizhou, Zhejiang. This facility will have state-of-the-art technology, which will help it create different satellites for both Geely and non-Geely devices and machines. The company also mentioned that the satellite network will be launched by the end of the year, but refrained from commenting on how large or extensive it would be. Sources states that the giant is spending almost $326 million on this project, and plans to makeover 500 satellites a year.

Satellite Power

Most of these will be low-orbit satellites that will provide high-speed data transmission capabilities and also help with navigation. Geely believes that this will help usher in a new age for cloud computing, which will make it possible for vehicles to receive over-the-air instructions and updates.

Furthermore, this will help in providing a direct link between the manufacturer and the vehicle, allowing the company to constantly keep track of the device’s performance and maintenance. Also, the company might plan to collaborate with other satellite makers such as SpaceX and OneWeb. Altogether, these satellite constellations will be able to transmit large volumes of data.

While current GPS probes are only accurate up to meters, this new satellite network will make it possible for vehicles to be accurate to within even a centimeter. Such accuracy will prove to be crucial when it comes to autonomous vehicles, as the biggest argument against their use is that of safety and inaccuracy. Unmanned flight, UAVs and smart cars will all turn into realities if this plan works the way it ought to.

The Future

Autonomous vehicles will be a signature of the future. As and when that happens, Geely will have a huge advantage over its competitors if it has its own satellite network to back up its vehicles. Instead of relying on third-party vendors for satellites, the company will be able to make use of its own fleet to run diagnostics, control navigation and also set up communication with its cars.

Furthermore, the demand for on and in-car connectivity has been on the rise in the last couple of years and have their own satellite network will help Geely back up that demand. A similar move has been undertaken by Elon Musk, whose company SpaceX is creating a Starlink network, which can be used to communicate with his Teslas.

Every year over 78 million people buy cars, and as the years go by, more and more people want their cars to be smarter. Connected cars will help buyers get the best of both worlds by being smart, intelligent, intuitive and highly productive. For instance, in 2016, connections for cars was growing at a faster rate than cellular connections for mobile phones.

This is because a high-end supercar has to process more data than a supercomputer! Hence, car manufacturers all around the world have realized that in the future, cellular connections alone will not be enough to process all the data required. Hence, satellites will be the best option for them to transmit large data and process vital information. Therefore, we will be seeing even more car makers, such as Geely, take to the stars in order to turn their dreams into a reality.